The price of Ether was down 2.64 percent at $3,840. It increased by $297 over the weekend. Apart from this, the prices of Tether, Solana, Ripple, USD Coin, Cardano, Polkadot, Tron and Litecoin have decreased. crypto The market capitalization of India was down by 1.61 percent at about 2.59 trillion dollars. The share of Bitcoin in this market was about 51.9 percent and that of Ether was 17.9 percent.
Shivam Thakral, CEO of crypto exchange BuyUcoin, told Gadgets360, “BlackRock’s Bitcoin exchange traded fund has reached $10 billion in funding. It is the fastest ETF to reach this level in the US. The next resistance for Ether is 4,000. It may cross this level before the Dencun upgrade this week. This upgrade may lead to a reduction in fees on Layer 2 blockchains. Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “There are 40 days left for the Bitcoin halving event. Before that, market volatility may increase.”
This segment is being promoted by leaders of some big countries as well as investors. Recently, Prime Minister Narendra Modi had expressed the need for global cooperation to deal with emerging technologies like Artificial Intelligence (AI) and cryptocurrency. There is enthusiasm among investors after the approval of Bitcoin Exchange Traded Fund (ETF) by the Securities Regulator SEC in America. However, due to high taxes on the crypto segment in the country, growth is being affected. Before the budget presented last month, the crypto industry had requested the central government to reduce taxes on this segment. However, Finance Minister Nirmala Sitharaman did not make any mention of cryptocurrencies in the interim budget. Due to this, the stakeholders associated with this industry were disappointed. Regulators in some countries have also warned about cryptocurrencies.